WASHINGTON - The cost of mailing a letter will increase to 39 cents on Jan. 8.
The Postal Service's board of governors approved the two-cent increase in first-class postal rates late Monday. It is the first increase since June 2002.
The cost of mailing a postcard will increase a penny, to 24 cents, as part of the roughly 5.4 percent, across-the-board hike in most rates and fees.
The increase fulfills a requirement, passed by Congress in 2003, that the Postal Service establish a $3.1 billion escrow account. Congress is to determine later how to spend that money. The Postal Service said without the mandate it would not have had to raise rates next year.
So now the Postal Service is a money maker for Congress?